An Act To Include State Employee Stipends as Earnable Compensation
Sec. 1. 5 MRSA §17001, sub-§13, ¶A, as amended by PL 1989, c. 800, is further amended to read:
(1) Workers' compensation benefits;
(2) Maintenance, if any;
(3) Any money paid by an employer to a 3rd party under a tax sheltered annuity contract or a deferred compensation plan for the future benefit of an employee provided that as long as the money is not derived from amounts excluded from earnable compensation by paragraph B; and
(4) Pick-up contributions . ; and
(5) Stipends received as part of the member's compensation for services rendered in an employment position.
summary
This bill requires that stipends paid to a member of the Maine Public Employees Retirement System be counted as earnable compensation for purposes of calculating retirement benefits.